Praveen Jaswantrai Jain completed the acquisition of 26% stake in Shashank Traders Limited.
On January 11, 2016, it was announced that the offer would open on January 12, 2016 and close on January 25, 2016, In the event that either the regulatory approvals are not received, there is any litigation to stay the offer or SEBI instructs the acquirer not to proceed with the offer, then the offer proceeds may be delayed beyond the schedule of activities. The offer is not subject to any minimum level of acceptances. Sachin Garg of Omkam Capital Markets Pvt. Ltd. is acting as broker to the transaction. Manoj Kumar and Ruchika Sharma of Corporate Professional Capital Pvt. Ltd. is acting as Manager to offer. Sharwan Mangla of MAS Services Limited acted as registrar and Amar Bafna of Amar Bafna Associates acted as accountant to Praveen. Omkam Capital Markets Private Limited is acting as broker to Praveen Jaswantrai. YES Bank Limited acted as escrow agent.
Praveen Jaswantrai Jain completed the acquisition of 26% stake in Shashank Traders Limited on January 25, 2016.